Now, why is the market recovering despite Obama's socialistic messages? Because he's resorting to Bush policies. For example, the fear is dissipating that we are going to fail in Iraq-Afganistan because Zero is following Bush.
ALSO (and this is a big one) most are predicting that cap and trade will NOT pass. In addition, universal health care is looking very shaky. If these 2 humongous things don't happen, we could very well be on our way to recovery even though at the moment jobless rates are going up.
Stock investors look ahead (they're a leading indicator like you said). If Obama isn't getting his way on his biggest domestic socialist polices investors know recovery is ahead. So the market is now very cautiously looking at that. We will see major advances if these domestic efforts definitively fall apart.
No kidding. That's why I asked the OP the question I did.
I just looked at my latest Merril Lynch statement. It definitely doesn't look like it's "soaring."